TORONTO, Ontario, May 27, 2011 – Broadridge Financial Solutions, Inc. (NYSE:BR) today announced that Penson Financial Services Canada Inc. is now operating live on Broadridge Canada’s Brokerage Processing Services (BPS®) solution and investor communication solutions for its securities processing and brokerage accounting businesses. In addition to these solutions, Broadridge is also providing its leading edge, fully customizable Business Process Outsourcing services to provide enhanced operational efficiencies and flexibility. Penson Financial Services Canada Inc., a member of the Penson Worldwide, Inc. (NASDAQ: PNSN) group of companies, is the leading independent provider of correspondent clearing services in Canada.
Broadridge has worked very closely with Penson throughout the entire conversion process and, in response to Penson’s requirements, has further extended its breadth of processing and investor communications capabilities to include a wide range of new enhancements.
Broadridge’s enhancements for securities processing include: enhanced correspondent services, holiday processing, additional French language support, and the integration of Broadridge’s Aspire® 2.0 Wealth Management Broker Desktop for real-time connectivity with Penson’s Advanced Order Management service.
Penson is also utilizing Broadridge’s investor communication services. Its enhanced solutions for Penson include Smart Prospectus®, electronic Smart Prospectus (eSP Lite), Trade Confirmations, Tax Forms Plus and PostEdge® for document and report archival.
The availability of these new enhanced offerings continues Broadridge’s focus on further extending the solutions available to its customers, and its ability to deliver the benefits of increased operational efficiencies and reductions in costs.
John Skain, President and Chief Executive Officer, Penson Financial Services Canada Inc., said: “Penson sees significant benefit in the technology and operational efficiencies that Broadridge offers. The move to Broadridge allows Penson to offer a wider range of products and services to our customers. Penson is committed to providing greater choice and flexibility in the services our customers expect.”
Michael Dignam, President, Securities Processing Solutions, Canada, Broadridge, said: “As the leading financial services solutions provider in the Canadian marketplace, Broadridge is pleased to provide a full range of products and services in support of Penson’s business.”
Penson is the leading independent provider of correspondent clearing services in Canada. The firm offers a range of securities, futures and derivatives processing infrastructure products and services including clearing, execution, custody, margin lending, facilities management, and technology solutions.